President Tinubu Authorizes Duty-Free Importation of Rice, Wheat, Beans,Other Food Commodities to Ease Cost-of-Living Burdens of Nigerians

President Tinubu Authorizes Duty-Free Importation of Rice, Wheat, Beans, Other Food Commodities to Ease Cost-of-Living Burdens of Nigerians

Jul 8, 2024 - 20:46
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President Tinubu Authorizes Duty-Free Importation of Rice, Wheat, Beans,Other Food Commodities to Ease Cost-of-Living Burdens of Nigerians

By: Abdulwasiu Akintunde 

President Bola Tinubu has approved the duty-free importation of major food items such as rice, beans, and wheat to alleviate the high food prices Nigerians have been facing since he took office last year. 

According to a statement from Tinubu’s spokesperson, Bayo Onanuga, sighted by OPEN TELEVISION Naija, "these measures will be “implemented over the next 180 days.” 

Onanuga, quoting Agriculture Minister Abba Kyari, said the president approved a “150-Day Duty-Free Import Window for Food Commodities,” which includes “Maize, Husked Brown Rice, Wheat, and Cowpeas.” 

Nigerians have struggled with high food prices following the president's removal of petrol subsidies and the decision to allow the naira's value to be determined by market forces.

The policies has results in a significant increase in the prices of basic foods, with the price of a 50kg bag of rice rising from about N20,000 to around N70,000 in a year. 

Many Nigerians in recent times have urged President Tinubu to allow massive food importation to mitigate the rising food prices, while others opposed it, arguing it would harm local production. 

In his statement, Mr. Onanuga announced that the government will permit duty-free imports for the private sector for 150 days. 

Additionally, the Federal Government will import 250,000MT of wheat and 250,000MT of maize. These semi-processed food commodities will be supplied to small-scale processors and millers across the country.

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